Monday, January 18, 2010

CDs are not a good bet for most investors

We're always happy to talk to local media and share our perspectives on finances. With this story in the St. Joseph News-Press by Ryan Davis, we were able to offer our contrarian point of view that CDs are not a good investment, due to the fact that rates are incredibly low and the money that's in them is tied up. You're sacrificing flexibility, and lots of it, for security. We don't advise this in most situations. Notice that the folks who are SELLING CDs are still advising people to buy them. It's a conflict of interest, and exactly what we avoid by being fee-only investment advisors.

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Dan Danford is founder and CEO of Family Investment Center in St. Joseph, Missouri. The firm is a commission-free investment advisor registered with the SEC. Danford and other advisors at the firm specialize in managing large portfolios of traditional investments. They do, however, advise investors on a broad range of wealth management services. More about Danford and this unique firm can be found at www.familyinvestmentcenter.com or call (816) 233-4100.